Over the past day, the crypto market has been reasonably positive. With trade and small gains are being seen across the board this morning. Since this time yesterday, the whole market has jumped by 0.3% which then led it to be $203 billion according to CoinMarketCap. What might come as a surprise was that Bitcoin was the only coin which failed to jump a bit higher. The leading digital currency failed to follow the herd (and on its birthday too!) so it ended up being a slight drag on proceedings. This leaves us with the question of, whatâs next for Bitcoin? As said by The Motley Fool, the whole market seems to have been quite calm across the board but according to some reports, this isnât necessarily going to be the case for much longer. Based on a technical analysis, the leading crypto is approaching a key support level and could soon make a crucial move in any direction. One of the reports, by Forbes, states:
âBitcoinâs descending triangle has been forming since February/March of this year. $6,000 is the key support level to watch. Descending triangles are bearish patterns, so there is a higher probability of a breakdown from here, but it is important to be open to the idea of an upside breakout as well. Also, beware of the risk of a head-fake move in which Bitcoin initially breaks out in one direction, only to head in the opposite direction while making a more sustained move.âThis is something that you should keep in mind over the next few weeks but for now here is the current state of some of the key currencies in the market: Bitcoin is in the green and up by one percent leaving it to be priced at $6,391 at the current time of writing. Ethereum is up by one percent too leaving it priced at just under $200 and a market cap of $20,506,002,082 exactly, at the current time of writing. XRP has jumped by 2.27% and is priced at 0.4514 according to CoinMarketCap. What are your thoughts? What do you think is next for Bitcoin? Let us know what you think down below in the comments!